Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Glenorchy Capital Ltd

Glenorchy Capital Ltd decreased its stake in Scorpio Tankers Inc. (NYSE:STNG) by 30.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,004 shares of the shipping company’s stock after selling 13,119 shares during the period. Glenorchy Capital Ltd’s holdings in Scorpio Tankers were worth $2,139,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in shares of Scorpio Tankers in the 4th quarter valued at about $740,000. International Assets Investment Management LLC lifted its holdings in shares of Scorpio Tankers by 34.8% in the 1st quarter. International Assets Investment Management LLC now owns 21,517 shares of the shipping company’s stock valued at $1,565,000 after buying an additional 5,550 shares during the period. Counterpoint Mutual Funds LLC boosted its stake in shares of Scorpio Tankers by 24.7% in the first quarter. Counterpoint Mutual Funds LLC now owns 7,526 shares of the shipping company’s stock valued at $538,000 after buying an additional 1,489 shares in the last quarter. AlphaMark Advisors LLC boosted its position in shares of Scorpio Tankers by 5.9% during the 1st quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock worth $358,000 after purchasing an additional 281 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Scorpio Tankers by 320.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,777 shares of the shipping company’s stock worth $628,000 after buying an additional 6,690 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $67.02 on Friday. The company has a 50-day simple moving average of $70.38 and a 200-day simple moving average of $74.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The company has a market cap of $3.56 billion, a PE ratio of 5.27, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15. Scorpio Tankers Inc. has a 12 month low of $52.68 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. During the same period in the previous year, the company earned $2.41 EPS. Scorpio Tankers’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts anticipate that Scorpio Tankers Inc. will post 12.43 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a $0.40 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.60 annualized dividend and a yield of 2.39%. Scorpio Tankers’s payout ratio is currently 12.58%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a report on Tuesday, July 30th. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Stifel Nicolaus upped their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Evercore ISI raised their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.80.

Scorpio Tankers Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.